Many business owners worry about the cost of investing in a brand strategy, but the truth is that the cost of not investing can be even greater. The brand may lose relevance and become easily replaceable by another, compromising growth and profit. Leaving branding aside is, in practice, opening space for competition that is willing to create a stronger and more emotional connection with the customer.
Brands without a strategy tend to be forgotten. And in today's business environment, where there are so many options for consumers, being forgotten can be fatal. According to the Invesp report, 59% of consumers prefer to buy new products from brands they already know. If you don't invest in building this connection, your audience will simply look for other options.
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